Gold and silver prices surged to record all-time highs on Wednesday as investors sought safe-haven assets amid global economic uncertainty. The MCX gold rate opened at ₹1,26,915 per 10 grams and touched an intraday high of ₹1,27,500, while MCX silver rose to ₹1,61,418 per kg. The rally comes as concerns over the US-China trade war and signals of further interest rate cuts by the US Federal Reserve fuelled demand for precious metals.
Gold continues to shine
Gold has emerged as one of 2025’s top-performing assets, jumping 55% year-to-date amid economic and geopolitical concerns. Over the past two decades, gold prices in India have soared by 1,200%, rising from ₹7,638 per 10 grams in 2005 to over ₹1,00,000 in 2025. Year-to-date, gold prices have risen 31%, consistently hitting record highs.
According to experts, gold remains a reliable hedge against market volatility, attracting investors seeking to safeguard their portfolios in uncertain times.
Silver holds firm
Silver has also maintained its strength, trading above ₹1 lakh/kg for several months. Between 2005 and 2025, silver prices surged by 668.84%, demonstrating resilience as an investment amid fluctuating markets. Analysts view silver alongside gold as a safe-haven asset, particularly during periods of heightened risk aversion.
Current rates in major cities
As of October 15, bullion and MCX rates for gold and silver in India were as follows:
Bengaluru:
- Gold bullion: ₹1,25,630/10 gm
- MCX Gold: ₹1,26,820/10 gm
- Silver bullion: ₹1,60,250/kg
- MCX Silver 999: ₹1,60,274/kg
Mumbai:
- Gold bullion: ₹1,26,720/10 gm
- MCX Gold: ₹1,26,773/10 gm
- Silver bullion: ₹1,60,130/kg
- MCX Silver 999: ₹1,60,274/kg
Delhi:
- Gold bullion: ₹1,26,500/10 gm
- MCX Gold: ₹1,26,773/10 gm
- Silver bullion: ₹1,59,850/kg
- MCX Silver 999: ₹1,60,274/kg
Chennai:
- Gold bullion: ₹1,27,090/10 gm
- MCX Gold: ₹1,26,773/10 gm
- Silver bullion: ₹1,60,590/kg
- MCX Silver 999: ₹1,60,274/kg
Kolkata:
- Gold bullion: ₹1,26,550/10 gm
- MCX Gold: ₹1,26,773/10 gm
- Silver bullion: ₹1,59,920/kg
- MCX Silver 999: ₹1,60,274/kg
Hyderabad:
- Gold bullion: ₹1,26,920/10 gm
- MCX Gold: ₹1,26,773/10 gm
- Silver bullion: ₹1,60,380/kg
- MCX Silver 999: ₹1,60,274/kg
Why investors are turning to gold and silver
The recent surge in prices is attributed to multiple factors:
- Ongoing US-China trade tensions, which have unsettled global markets.
- Expectations of two more interest rate cuts by the US Fed, making gold more attractive relative to low-yielding assets.
- Safe-haven demand during periods of geopolitical and economic uncertainty.
Experts advise investors to monitor gold and silver prices closely, as these assets continue to offer portfolio protection against market volatility.